First Citizens Bank & Trust Co. Has $162.99 Million Stake in Apple Inc. $AAPL

First Citizens Bank & Trust Co. cut its position in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 642,203 shares of the iPhone maker’s stock after selling 4,161 shares during the period. Apple comprises about 2.8% of First Citizens Bank & Trust Co.’s portfolio, making the stock its 7th largest position. First Citizens Bank & Trust Co.’s holdings in Apple were worth $162,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple during the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. LSV Asset Management bought a new stake in Apple during the 4th quarter worth approximately $65,000. Timmons Wealth Management LLC bought a new stake in Apple during the 4th quarter worth approximately $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the 4th quarter worth approximately $76,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAPL. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. KeyCorp reissued an “underweight” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, July 28th. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a report on Wednesday, July 15th. Evercore reaffirmed an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. Finally, TD Cowen upped their target price on shares of Apple from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $330.44.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

Apple Price Performance

NASDAQ AAPL opened at $313.33 on Friday. The firm’s 50 day moving average is $309.45 and its 200-day moving average is $283.23. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.57 trillion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. Apple Inc. has a 12-month low of $219.25 and a 12-month high of $344.57.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is presently 12.39%.

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.